Nifty 8626/Sensex 27286/Bank Nifty 19556
27 Advances/24 Decline/0 Unchanged
Nifty fails to hold 8650, Sensex closes lower on late sell-off
The 30-share BSE Sensex closed rangebound session on negative note Tuesday as investors awaited another batch of corporate earnings after Diwali holiday. After trading positive for major part of the session due to firm PMI data, Asian cues and better auto sales data, benchmarks lost ground in late trade on profit booking after volatility in European markets and on lack of FIIs buying in October.
The BSE Sensex was down 53.60 points at 27876.61 after hitting an intraday high of 28029.80. The NSE Nifty touched a day's high of 8669.60, before closing up 0.55 points at 8626.25.
Foreign institutional investors have turned net sellers of equities in October for the first time since March. They have sold more than Rs 4,000 crore worth of shares in October after buying over Rs 65,000 crore worth of shares in seven consecutive months since March.
The broader markets also turned negative in late trade as the BSE Midcap and Smallcap indices lost 0.2 percent each.
Key Results
HTMEDIA
UPERGANGES
ADVANIHOTR
SAINTGOBAIN
Important Result : HT media
HT Media is expected to report net profit at Rs 37 crore, up 64.7 percent quarter-on-quarter. Net sales are expected to increase by 4.4 percent Q-o-Q (up 6.7 percent Y-o-Y) to Rs 641.6 crore, according to ICICI Securities.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 13.3 percent Q-o-Q (up 16.3 percent Y-o-Y) to Rs 72.8 crore.
Technical Levels of HT media
HT media has a support at 91 levels and resistance is at 93.80 level. Below 91 it can test its next support of 89.70. It will be positionally weak on close below this level else above 93.80 it can test its next hurdle of 96.70 again.
Our Recommendations
We booked full profit in Vedanta future around 221 and it was asked to buy around 205—206.
Another full profit was booked in Hind Zinc Future around 274 and it was recommended to buy around 257.
Last but not the least ,Our intraday traders booked full profit in Hindalco(Cash) around 158 and it was recommended to buy around 154.
Now what to expect??
Nifty Future levels
Nifty has immediate support at 8630 and resistance is at 8700
A move and sustain below 8630 will take to test its lower support of 8580--8530 and then to 8480.
It will be positionally weak on
close below this level 8450
Above 8700 will take it to its next hurdle at 8750---8780 and then to 8850 mark
Trade with levels only
Today's Top Pick
Banking stock looks weak on charts. ICICI bank... Close below 275 will take to 262---255 mark. On rise sell it. Stop loss 284
